899 Shares in ResMed Inc. $RMD Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC acquired a new position in ResMed Inc. (NYSE:RMD) in the second quarter, Holdings Channel reports. The firm acquired 899 shares of the medical equipment provider’s stock, valued at approximately $232,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its position in ResMed by 7.6% during the first quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock valued at $734,000 after buying an additional 231 shares during the period. CX Institutional grew its stake in ResMed by 6.8% during the 1st quarter. CX Institutional now owns 1,530 shares of the medical equipment provider’s stock valued at $342,000 after acquiring an additional 97 shares in the last quarter. Simon Quick Advisors LLC grew its stake in ResMed by 18.3% during the 1st quarter. Simon Quick Advisors LLC now owns 1,951 shares of the medical equipment provider’s stock valued at $437,000 after acquiring an additional 302 shares in the last quarter. Birch Capital Management LLC grew its stake in ResMed by 3.5% during the 1st quarter. Birch Capital Management LLC now owns 36,783 shares of the medical equipment provider’s stock valued at $8,234,000 after acquiring an additional 1,240 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in ResMed by 3.0% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 54,608 shares of the medical equipment provider’s stock valued at $12,224,000 after acquiring an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 2.1%

Shares of NYSE:RMD opened at $271.96 on Friday. The stock has a market capitalization of $39.69 billion, a PE ratio of 28.60, a P/E/G ratio of 1.87 and a beta of 0.83. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a fifty day moving average price of $278.51 and a 200 day moving average price of $255.46. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. ResMed’s dividend payout ratio is 25.24%.

Insider Activity

In related news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares in the company, valued at $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,743 shares of company stock valued at $5,284,514 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday. William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Finally, UBS Group upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $294.20.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.